Yahoo Has Acquired Instagram Co-Founders’ AI News Platform Artifact

Yahoo said on Tuesday it had acquired Instagram co-founders’ AI-driven news platform, Artifact, and will incorporate its technology across the U.S. web services provider’s news and other sites.

The deal signals continued pain for media start-ups struggling to grow revenue at a time when Big Tech giants Alphabet and Meta Platforms attract the bulk of advertising sales.

In January, Artifact said in a blogpost it would wind down operations of its app as “the market opportunity isn’t big enough to warrant continued investment in this way.”

Read the source article at Yahoo Finance